Tag:Marshall County Crossroads
MCEDC Annual Report
Great to see that Marshall County Economic Development Corporation (MCEDC) is back on track with Annual Reports. (And not just because of my teeny-tiny picture on the cover! Ha!) Riverside Commons actually has two references in the report, though not by name.
The lack of an Annual Report was one of the major issues in my last couple of years on the board. It got contentious with that director fabricating a false schedule for producing a report that never happened. Then it was apparently just completely disregarded by the next director. I’m glad to see that the new leadership under Greg Hildebrand includes living up to commitments, the Annual Report being one of these.
I don’t know how Greg is doing on the State and National levels, but on the local level, it’s been refreshing to have a MCEDC President that is not constantly burning bridges, MIA or joked about due to the inability to contact them or find them in the office. He also doesn’t take his title too seriously. IYKYK This will go a long way to improving MCEDC’s image and returning it to the mission it had when it was founded.
I hope we will be seeing quarterly newsletters again too. The organization has to be seen and seen as productive in order to continue to move the county forward. Even at its low points, I felt it was positive for Marshall County to have MCEDC. Good luck to Greg as he strives to make it an organization of which we can be proud once again.
More Stellar Signs
As I said in my previous post, I have been disappointed in the lost potential of the Stellar signs. At the time of that post, I hadn’t had the chance to see the signs in Bremen and Bourbon. I had the opportunity to see those signs the other day. While both of these seemed to be making better use of the opportunities and goals set for these signs, they are still under used.
Bremen is doing the best with use of it for town events. It had quite a few different local events listed, but there was still the ubiquitous Time & Date filler and “Welcome to Bremen”. Nothing was shown regarding the events outside of Bremen when I was there.
Bourbon wasn’t being used as much with the Time & Date filler prominent. Bourbon did make the move of including other local connections. They included screens with their town website address which I thought was an improvement and something the others should consider. (The sign was legible up close, but obviously not enough so for a picture.)
As I stated in the previous post, I realize there are limitations to the time municipal employees have to keep up with these things. Just this past week, I was please to see that Culver’s sign had shown some improvement, including advertising the “Paint Out” that was scheduled here this weekend. But events like the Paint Out should be showing up on all of these signs. The opportunity for cross-county tourism is a real one, plus the event would have been seen by travelers passing through those communities too. I’ll keep an eye on all of them for improvements. Time will tell. The opportunity is still there.
LIHTC & Stellar
December 20, 2023
Kevin Berger
Commentary, Culver, LaPaz, Marshall County, MCCF, MCEDC, Plymouth, Sand Hill Farm, Stellar
Community, Culver, Culver Redevelopment Commission, government, LIHTC, Marshall County Crossroads
At the December meeting of the Culver Redevelopment Commission (CRC), Linda Yoder, Executive Director for the Marshall County Community Foundation (MCCF), made a presentation on One Marshall County. One Marshall County is the new umbrella organization that Marshall County Economic Development Corp (MCEDC) has spearheaded. Linda and I serve on the collaborative council discussing this new initiative and Linda had volunteered to make the presentation of the need for One Marshall County before the CRC. This also included a request for funding.
There were a few math errors in the presentation, but one of these jumped out at me was during the discussion of Stellar and the investment that Marshall County Crossroads brought to local communities. The numbers quite clearly did not include the investment from tax credits provided by IHCDA. The Low Income Housing Tax Credits (LIHTC) provided by IHCDA amounted to the biggest single project investment from any of the State agencies involved in Stellar. In all, through the tax credits and loans, Plymouth and LaPaz shared $14 million dollars of investment in their communities with Riverside Commons. That investment didn’t show up in the presentation numbers. This is no shade on Linda! She didn’t prepare the numbers…
This isn’t the first time for this. Culver received approximately $10 million in tax credits and loans for The Paddocks, but that number rarely shows up in their Stellar discussions. These would be huge contributors to the ROI discussion, since local investment in these projects was largely limited to in-kind waivers and some inhouse work. (Culver contributed nothing to The Paddocks project. Plymouth gave waivers on improvements to surrounding alleys. LaPaz waived sewer tap fees and secured matching INDOT funding to improve the street serving the project.)
I think there are a couple of reasons for this lack of acknowledgment: 1) The Stellar Committees don’t really understand the program and 2) Unlike many of the project which were directly municipal projects, i.e. parks, trails, etc., that required more active involvement, the LIHTC portion of Stellar is directly administered by the project developer, so there isn’t a pass-through of dollars. The LIHTC award creates a private project. Where there was some shifting of dollars amongst the other municipal projects within the Stellar awards, that was not an option with LIHTC.
Despite the success of The Paddocks in Culver’s Stellar Community program, Marshall County didn’t even include a LIHTC request in their first application for Stellar Region. I had lobbied for its inclusion and felt that the group slighted IHCDA by not accepting their offer. I lobbied a little harder in their second attempt and Riverside Commons was included in that application, which was successful. This was probably not the only reason, but I firmly believe it contributed to the success of the second application.
There have been some complaints about The Paddocks, but The Paddocks has met or exceeded all of the metrics set forth for it. The same can be said for Sand Hill Farm Apartments, the precursor project that made Culver Stellar and The Paddocks possible. It’s too soon to document that for Riverside Commons, which has different goals, but I have no reason to believe the results will be different. As far as community acknowledgement, the LaPaz and Plymouth councils have done a great job of recognizing Riverside Commons. They each have a Stellar agenda item on their council agendas and request updates for each meeting. Culver did not include The Paddocks in their Stellar reports to the council.
I think it’s a missed opportunity when the LIHTC investment is not celebrated and included in the ROI… But then, I’m obviously biased!
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